CERTYNEX IFRS ACADEMY

At 31 December, Zélvix describes in a note a guarantee given for a partner, with the maximum exposure 'to be confirmed'. In January, the partner provides the final amount of the guaranteed debt. The note keeps the words 'to be confirmed'. What is the error?

There is no error: information received in January concerns the following year.

Failing to update the disclosure about a condition existing at the reporting date.

Not restating the prior-year comparatives with the new amount.

Describing the guarantee instead of waiting for any default by the partner.